Cooking.com Completes $35 Million Funding Round; idealab! Leads Group in Funding of Online Culinary Retailer.Business Editors & Food Writers SANTA MONICA Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. , Calif.--(BUSINESS WIRE)--May 16, 2000 Cooking.com (www.cooking.com), the premier destination for people who cook and enjoy gourmet food, today announced it has closed a $35 million round of private financing. idealab!, which has assisted Cooking.com since its inception, led the funding. The round also included commitments from Pyramid Technology Pyramid Technology was a computer company that produced a number of RISC-based minicomputers at the upper end of the performance range. They also became the second company to ship a multiprocessor Unix system (branded DC/OSx), in 1985, which formed the basis of their product line Fund and Hikari Tsushin. Cooking.com will use the capital towards accelerating market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" , expanding its product assortment assortment /as·sort·ment/ (ah-sort´ment) the random distribution of nonhomologous chromosomes to daughter cells in metaphase of the first meiotic division. as·sort·ment n. and content offerings and enhancing its operations. To date, Cooking.com has received $90 million in private funding. "Cooking.com is a leader among online culinary cu·li·nar·y adj. Of or relating to a kitchen or to cookery. [Latin cul  n sites, and we
are excited to enable the company's efforts to build and enhance
their site," said Bill Gross, founder and chairman of idealab!.
"We are pleased to have Cooking.com in our network of companies and
are encouraged by the strength of their management team, strategic
alliances and market opportunity."
Founded in March 1998, Cooking.com has established category leadership among culinary sites. Offering more than 5,000 SKUs, the online retailer maintains one of the broadest product selections of cooking-related items on the Web. Cooking.com has developed numerous partnerships with established market leaders such as America Online See AOL. , Martha Stewart Living Martha Stewart Living is a magazine and a television show featuring entertaining and home decorating guru Martha Stewart. Both the magazine and the television program focus on the domestic arts. , Omnimedia Inc. and Starbucks Coffee Company. In addition, Cooking.com was recently ranked third by Fortune magazine in an independent study rating the performance of Internet retailers in all categories, during the 1999 holiday season. "At a time when investors are taking a long, hard look at their investment opportunities, our continued ability to secure funding from both existing and new equity investors attests to the strong business fundamentals business fundamentals The general background within which an economy operates including earnings, sales, wage rates, taxes, and inflation. Improving business fundamentals are generally viewed as bullish for stocks, although stock prices at any given point on which our company is based," said David Hodess, president and chief executive officer of Cooking.com. "This round of financing enables the company to continue operational enhancements that will make our high level of customer service even better." About Cooking.com Cooking.com is a leading online retailer of best-of-brand cooking-related products and specialty foods. The site offers around-the-clock accessibility to more than 5,000 product offerings from top brands such as All-Clad, Calphalon, Cuisinart, KitchenAid, Krups, Henckels and Wusthof. In addition, Cooking.com provides thousands of recipes, cooks' tips, feature articles and menus planners from renowned chefs, cookbook (programming) cookbook - (From amateur electronics and radio) A book of small code segments that the reader can use to do various magic things in programs. One current example is the "PostScript Language Tutorial and Cookbook" by Adobe Systems, Inc (Addison-Wesley, ISBN authors and restaurateurs, creating a unique destination for people who love to cook and enjoy gourmet food. Cooking.com maintains an exclusive relationship with Burt Wolf, one of the nation's best known experts on food and cooking equipment, who contributes his unique views on the latest cooking products, recipes from his worldwide travels and special occasion menus. Cooking.com's firm commitment to customer service ensures individual attention and a hassle-free shopping experience for every guest to the site. |
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